4,904 Shares in Diamondback Energy, Inc. $FANG Bought by Western Wealth Management LLC

Western Wealth Management LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 1st quarter, HoldingsChannel reports. The firm purchased 4,904 shares of the oil and natural gas company’s stock, valued at approximately $970,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FANG. Boston Partners raised its position in shares of Diamondback Energy by 2.9% in the third quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock worth $821,649,000 after acquiring an additional 163,548 shares during the period. Geode Capital Management LLC boosted its stake in shares of Diamondback Energy by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock worth $844,073,000 after acquiring an additional 14,625 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Diamondback Energy by 11.5% during the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock valued at $775,607,000 after acquiring an additional 532,756 shares during the period. Capital Research Global Investors grew its position in shares of Diamondback Energy by 14.1% during the 4th quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock valued at $651,363,000 after acquiring an additional 534,073 shares during the period. Finally, Morgan Stanley increased its stake in shares of Diamondback Energy by 3.2% in the 4th quarter. Morgan Stanley now owns 3,828,941 shares of the oil and natural gas company’s stock valued at $575,605,000 after purchasing an additional 117,798 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Susquehanna upped their price target on Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Wells Fargo & Company set a $212.00 price objective on Diamondback Energy in a report on Monday, June 22nd. Barclays boosted their price objective on Diamondback Energy from $225.00 to $232.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Scotiabank upped their target price on Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, Citigroup decreased their target price on Diamondback Energy from $245.00 to $221.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $218.63.

Insider Transactions at Diamondback Energy

In other news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $200.54, for a total value of $1,002,700.00. Following the completion of the sale, the executive vice president directly owned 46,392 shares in the company, valued at $9,303,451.68. This represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Lawrence Plaumann sold 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the sale, the director directly owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. This represents a 3.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 113,691 shares of company stock worth $21,622,752. 0.64% of the stock is owned by insiders.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $202.95 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51. The firm has a market capitalization of $57.09 billion, a PE ratio of 235.99 and a beta of 0.43. The firm’s 50-day moving average price is $190.79 and its 200 day moving average price is $184.65.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping the consensus estimate of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the business earned $4.54 EPS. Diamondback Energy’s quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 18.9 EPS for the current fiscal year.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.